My data point.
We've gotten mortgages through banks where we didn't have any prior relationship. This includes a local bank, as well as two nationally known ones. They were very happy to do business with us even though we weren't current customers, and I did not feel like there was a degradation in service in any way.
Now some banks might offer some small incentives for existing customers if you have more than $X already with them (usually just having an account isn't enough). However, in my experience, those incentives don't usually justify keeping an account at a bank where you wouldn't normally do business.
All that said, there might be OTHER reasons to maintain a relationship with a bank, but needing a mortgage is not one of them.
We've gotten mortgages through banks where we didn't have any prior relationship. This includes a local bank, as well as two nationally known ones. They were very happy to do business with us even though we weren't current customers, and I did not feel like there was a degradation in service in any way.
Now some banks might offer some small incentives for existing customers if you have more than $X already with them (usually just having an account isn't enough). However, in my experience, those incentives don't usually justify keeping an account at a bank where you wouldn't normally do business.
All that said, there might be OTHER reasons to maintain a relationship with a bank, but needing a mortgage is not one of them.
Statistics: Posted by humblecoder — Sat Nov 30, 2024 8:36 am — Replies 11 — Views 766